January, 2008

CURRICULUM VITAE

Michael D. Hurd

Present Positions:

Senior Economist and Director, RAND Center for the Study of AgingRAND Corporation1776 Main StreetSanta Monica, CA 90407Telephone (310) 393-0411 *6945FAX (310) 451-6923E-mail: mhurd@rand.org

Research AssociateNational Bureau of Economic Research, 1979-present

Research Professor, Mannheim Research Institute for the Economics of Aging, 2005 –present

TIAA-CREF Institute Fellow, 2005 - present

Past Positions:

Assistant Professor, Stanford University, 1971-1978Associate Professor, SUNY at Stony Brook, 1978-1987Visiting Associate Professor of Economics, Stanford University, 1981-1982Visiting Professor, School of Business Administration, University of California,

Berkeley, 1984-1985Visiting Associate Professor of Economics, Stanford University, 1985Professor, SUNY at Stony Brook, 1987- 2000Chairman, Department of Economics, SUNY at Stony Brook, 1991-1992.Visiting Senior Scientist, Institute for Social Research, University of Michigan, 1997

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Education and Degrees:

University of Utah, 1959-1964: B.S., Electrical Engineering.University of California, Berkeley, 1967-1971:

M.S., Statistics Ph.D., Economics

Scholarships, Fellowships, and Honors:

National Science Foundation Graduate TraineeshipFord Foundation Career FellowshipDepartment of Labor Manpower Dissertation GrantMellon Fellowship, 1974NBER Faculty Research Fellowship, 1977-1978Hoover Institution National Fellow, 1981-1982Member, National Academy of Social Insurance, 1989-Chair, Economics of Aging Formal Interest Group, Gerontological Society, 1995-19961998 Fulvio Guerrini Lecture, University of Turin

Government, Public and Professional Service:

Consultant to NIA on reinterviewing the Retirement History Survey.Consultant to SSA on reinterviewing the New Beneficiary Survey.Consultant to NIA on Health and Retirement Survey.Member of The Technical Panel of Experts to the Quadrennial Social Security

Advisory Council, 1990.Committee on Economic Status for the Health and Retirement Study, 1990-1991.Member of the Panel of Experts to the Quadrennial Social Security Advisory

Council, 1991.Steering Committee for Transfers and Income of the Impaired, a module for the

PSID, 1992-93Organizer of session on Economic Well-Being of the Elderly in Developed Countries, 1992

Annual Meetings of the Population Association of America.Advisory Committee for the World Bank Old-Age Security Study, 1992-1993.Steering Committee for the Health and Retirement Study, 1992-1995Workshop on Forecasting Disability, National Academy of Sciences, October, 1993.Lectures on demographic changes, mortality risk and pensions: Netherlands

Graduate School of Economics, Workshop on Pensions and Public Finance in an Aging Society, 1993.

Co-PI, Asset and Health Dynamics among the Oldest-Old, 1992-1999Co-PI, Health and Retirement Study, 1995-presentSenior Investigator, Health and Retirement Study, 1995-1999Panel on Retirement Income Modeling, Committee on National Statistics,

National Research Council, 1995-96Workshop on Priorities for Data on the Aging Population, Committee on National

Statistics, National Research Council, 1996.Social Security Advisory Board: forum on “A Long-Range Research and Program

Evaluation Agenda for the Social Security Administration,” 1997.Temporary Member, Social Sciences and Population Study Section, NIH, 1997Member, Behavior and Social Science of Aging Review Committee, NIH (NIA-S), 1998-

2002

Member of the Scientific Committee of The Center for Research on Pensions and

Welfare Policies, University of Turin, Italy, 1999-

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Consultant to the English Longitudinal Study of Aging, 2000-Consultant to the Survey of Health, Ageing and Retirement in Europe, 2000-Panel on Access to Research Data, Committee on National Statistics, National Research

Council, 2003-2005Panel of Judges, Paul A. Samuelson Award, TIAA-CREF Institute, 2003, and 2004.Panel on Measuring Food Insecurity and Hunger, Committee on National Statistics,

National Research Council, 2004-2006.International Advisory Board, The Oxford Institute of Ageing, Oxford University.Editorial Board of the Journal of Population Ageing

Major Research Grants:

"A Compensation Measure of the Cost of Unemployment to the Unemployed," 1974-1975, fromASPER/Labor.

"Transfers within Social Security," with John Shoven, July, 1982-Sept, 1983, from ASPE/HHS."The Saving Behavior of the Elderly," July, 1984- July, 1986, from ASPE/HHS."Elderly People Living Alone: Aging and the Prospects of Poverty," with David Wise, July,

1986-June, 1987, from the Commonwealth Fund."The Joint Retirement Decision of Husbands and Wives," Oct, 1986-Oct, 1987, from Social

Security Administration (SSA)."Studies in the Consumption and Wealth of the Elderly," Oct, 1987-Dec., 1990, from National

Institute on Aging (NIA)."Forecasting the Consumption and Wealth of the Elderly," Oct, 1988-Dec., 1990, from SSA."Income and Savings of the Elderly," May, 1989-Dec., 1990, from AARP Andrus Foundation."Changing Social Security Survivorship Benefits," with David Wise, May, 1989-Nov., 1990, from

the Commonwealth Fund."Asset and Health Dynamics among the Oldest-Old," June, 1992-December, 1992(Co-PI) from

NIA."Asset and Health Dynamics among the Oldest-Old," January, 1993-December, 1994 (Co-PI)

from NIA."Wealth and Differential Mortality," senior investigator. D. McFadden, PI, Jan., 1994-Dec., 1998

from NIA"Asset and Health Dynamics among the Oldest-Old," January, 1995-December, 1999 (Co-PI)

from NIA."Health and Retirement Study," January, 1995-December, 1999 (Co-PI) from NIA"Subjective Beliefs and Saving Behavior," Jan, 1995-Dec., 1996, from NIA"Using Subjective Information to Explain Savings Decisions," October, 1995-August, 1996,

from NIA"Using Subjective Information to Explain Savings Decisions," August, 1996-April, 2002, from

NIA “The Value of Medicare,” October, 1997-September, 1999, from NIA“Real Wealth Change between 1982 and 1991 among the Newly Retired, Feb, 1998-February, 2002,

from Social Security Administration

“Exploratory Psychological Explanations for Savings,” March 1998-February 2000, from AARP

Andrus Foundation.

“Economic and Demographic Determinants of Bequests,” July, 1998-June, 2003, from NIA

“Health and Economic Status in Older Populations,” October, 1998-May, 2005 from NIA

“Health and Economic Status in Older Populations,” June, 2005-May, 2010 from NIA

“RAND Center for the Study of Aging,” July, 1994-June, 1999 from NIA

“RAND Center for the Study of Aging,” August, 1999-July, 2004 from NIA

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“RAND Center for the Study of Aging,” August, 2004-July, 2009 from NIA “Health and Retirement Study,” January, 2000-December, 2005 (Co-PI) from NIA“Evaluation of the Effects of Changing Social Security Early Entitlement and Normal Retirement

Age,” May, 2000-March, 2002 (Co-PI) from SSA“Health Status & Medical Treatment of Future Elderly- Implications for Medicare Program

Expenditures,” June, 1999-June, 2002 (Co-PI) from CMS“Expected Bequests & Their Distribution,” August, 2001-July, 2006 (Co-PI) from NIA“Mortality Risk and Early Retirement,” October, 1999-October, 2002, from SSA“Wage Growth and Saving for Retirement,” February, 2002-May, 2003, from SSA“Internet Interviewing and the HRS,” April, 2002-March, 2007 (Co-PI) from NIA“Consumption and Time-Use before and after Retirement,” October, 2002-September, 2003, from

SSA.“Changes in Consumption and Activities at Retirement,” December, 2003-September, 2004, from

SSA.“Intergenerational Financial Transfers,” September, 2003-August, 2008 from NIA“Consumption and Well-Being at Older Ages,” December, 2004-September, 2005, from SSA.“Probabilistic Thinking and Economic Behavior,” (Co-PI) 2005-2007 from NIA“Financial Security in Retirement,” 2005-2006 from Dept. of Labor.“International Comparisons,” 2005-2007 from Dept. of Labor.“Alternative Measures of Replacement Rates,” 2005-2006 from SSA.“Health and Retirement Study,” January, 2006-December, 2011 (Co-PI) from NIA.“Adequacy of Economic Resources in Retirement and Returns-to-scale in Consumption,” 2006-

2007 from SSA

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Publications

Book

The Economic Effects of Aging in the United States and Japan, co-edited with Naohiro Yashiro,1997, University of Chicago Press.

Guest Editor

“Symposium on Assets, Income and Retirement,” Fiscal Studies, 19 (2), May, 1998.

Papers

"Changes in Wage Rates Between 1957 and 1967," Review of Economics and Statistics, 53 (May1971), pp. 189-199.

"Small Sample Estimation of a Structural Equation with Autocorrelated Errors," Journal of theAmerican Statistical Association, 67 (September, 1972), pp. 567-573.

"The Hickman-Coen Annual Growth Model: Structural Characteristics and Policy Responses,"(with Bert Hickman and Robert M. Coen), International Economic Review, 20 (February, 1975),pp. 20-37.

"The Effect of Social Security on Early Retirement," (with Michael Boskin), Journal of PublicEconomics, 10, (December,1978),pp. 361-377.

"Estimation in Truncated Samples When There Is Heteroscedasticity," Journal of Econometrics, 11(December, 1979), pp. 247-258.

"A Compensation Measure of the Cost of Unemployment to the Unemployed," Quarterly Journalof Economics, 95 (September, 1980), pp. 225-243.

"A Utility-Based Analysis of the Wage Subsidy Program" (with John Pencavel), Journal of PublicEconomics, 15 (April, 1981), pp. 185-201.

"Real Income and Wealth of the Elderly" (with John Shoven), American Economic Review, 62(May 1982), pp. 314-318.

"The Economic Status of the Elderly," (with John Shoven), in Financial Aspects of the UnitedStates Pension System, Z. Bodie and J. Shoven (editors), The University of Chicago Press, 1983,pp. 359-398.

"The Effect of Social Security on Retirement in the Early 1970's," (with Michael Boskin),Quarterly Journal of Economics, 99 (November, 1984), pp. 767-790.

"The Distributional Impact of Social Security," (with John Shoven), in Pensions, Labor andIndividual Choice, D. Wise (editor), The University of Chicago Press, 1985, pp. 193-221.

"Inflation Vulnerability, Income and Assets of the Elderly, 1969- 1979," (with John Shoven), inHorizontal Equity, Uncertainty and Economic Well-Being, T. Smeeding and M. David (editors),The University of Chicago Press, 1985, pp. 125-177.

"Indexing Social Security Benefits: A Separate Price Index for the Elderly?" (with Michael

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Boskin), Public Finance Quarterly, 13 (October, 1985), pp. 436-449.

"Savings of the Elderly and Desired Bequests," American Economic Review, 77 (June, 1987), pp.298-312.

"Forecasting the Consumption and Wealth of the Elderly," in Social Security and Private Pensions:Providing for Retirement in the 21st Century, S. Wachter (editor), D.C. Health, and Co., 1988, pp.47-69.

"The Wealth and Poverty of Widows: Assets Before and After the Husband's Death," (with DavidWise), in The Economics of Aging, D. Wise (editor), The University of Chicago Press, 1989, pp.177-199.

"The Poverty of Widows: Future Prospects," in The Economics of Aging, D. Wise (editor), TheUniversity of Chicago Press, 1989, pp. 201-222.

"The Annuity Value of Social Security," in The Political Economy of Social Security, B. A.Gustafsson and N. Anders Klevmarken (Editors), Amsterdam: Elsevier Science Publishers B.V.,1989, pp. 67-82.

"The Joint Retirement Decision of Husbands and Wives," Social Security Bulletin, January, 1989,pp. 29-32.

"The Economic Status of the Elderly," Science, 244, (May 12, 1989), pp. 659-644.

"The Importance of Gifts and Inheritances among the Affluent," (with B. Gabriella Mundaca), inThe Measurement of Saving, Investment, and Wealth, R. Lipsey and H. Tice (editors), TheUniversity of Chicago Press, 1989, pp. 737-758.

"Mortality Risk and Bequests," Econometrica, 57 (July, 1989), pp. 779-813.

"Research on the Elderly: Economic Status, Retirement, and Consumption & Saving," Journal ofEconomic Literature, 28 (June, 1990), pp. 565-637.

"The Joint Retirement Decision of Husbands and Wives," in Issues in the Economics of Aging, D.Wise (editor), The University of Chicago Press, 1990, pp. 231-254.

"Employee Benefits and Retirement Income Adequacy: Data, Research and Policy Issues," (withEmily Andrews) in Z. Bodie and A. Munnell (editors) Pensions and the Economy, Philadelphia:The University of Pennsylvania Press, 1992, pp. 1-30.

"Wealth Depletion and Life-Cycle Consumption by the Elderly," in Topics in the Economics ofAging, Ed: David Wise, Chicago: The University of Chicago Press, 1992, pp. 135-160.

"The Economics of Aging," in Gerontechnology, Editors: H. Bousma and J. Graafmans,Amsterdam: IOS Press, 1992, pp. 15-30.

"Simplified Estimation of a Nonlinear Simultaneous Equations Model with Censoring;† A MonteCarlo Study," (with H.K. Lee), The Journal of Statistical Computation and Simulation, 43 (1992),pp. 55-75.

"The Effect of Changes in Social Security on Bequests," Journal of Economics, Supplement 7,Bernhard Felderer, ed., 1993, pp. 157-176.

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"Measuring the Bequest Motive: The Effect of Children on Saving by the Elderly in the U.S."Savings and Bequests, Toshiaki Tachibanaki (editor), Ann Arbor: University of Michigan Press,1994, pp. 111-136.

"The Economic Status of the Elderly in the United States," in Aging in the United States and inJapan, Economic Trends, Eds.: Yukio Noguchi and David A. Wise, Chicago: University ofChicago Press, 1994, pp. 63-83.

"Evaluation of the Subjective Probabilities of Survival in the HRS," with Kathleen McGarry,Journal of Human Resources, 30, 1995, S268-S292.

"Household Saving Rates in Korea: Evidence on Life-Cycle Consumption Behavior," with H. K.Lee, The Journal of the Japanese and International Economies, 9, 1995, pp. 174-199.

"The Effect of Labor Market Rigidities on the Labor Force Behavior of Older Workers," in D.Wise, ed., Advances in the Economics of Aging, Chicago: University of Chicago Press, 1996, pp.11-58.

"Changing Social Security Survivorship Benefits and the Poverty of Widows," with David Wise, inHurd and Yashiro, eds., The Economic Effects of Aging in the United States and Japan, Universityof Chicago Press, 1997, pp. 319-332.

"The Effects of Demographic Trends on Consumption, Saving and Government Expenditures inthe U.S.," in Hurd and Yashiro, eds., The Economic Effects of Aging in the United States andJapan, University of Chicago Press, 1997, pp. 39-57.

"Tests of the Permanent Income-Life Cycle Hypothesis based on Household-level Panel Data fromKorea," with H.K. Lee, The Journal of the Japanese and International Economies, 1997, 11(March), pp. 105-122.

"The Economics of Individual Aging," The Handbook of Population and Family Economics, MarkR. Rosenzweig and Oded Stark (editors), North Holland Press, 1997, pp. 891-966.

“Medical Insurance and the Use of Health Care Services by the Elderly,” with Kathleen McGarry,Journal of Health Economics, 16, 1997, pp. 129-154.

“Asset and Health Dynamics Among the Oldest-Old: An Overview of the Survey,” with BethSoldo, Willard Rodgers, and Robert Wallace, Journal of Gerontology, 1997, vol. 52B, (May) pp1-20.

“Adequacy and Equity Issues: Another View,” in Social Security in the 21st Century, Eric R.Kingson and James H. Schulz (editors), 1997, New York: Oxford University Press, pp. 219-224.

"Subjective Survival Curves and Life Cycle Behavior," with Daniel McFadden, and Li Gan, inInquiries in the Economics of Aging, David Wise, ed., 1998, Chicago: University of Chicago Press,pp. 259-305.

“Household Wealth of the Elderly under Alternative Imputation Procedures," with Hilary Hoynesand Harish Chand, in Inquiries in the Economics of Aging, David Wise, ed., 1998, Chicago:University of Chicago Press, pp. 229-257.

“Symposium on Assets, Income and Retirement,” Fiscal Studies, 19 (2), May, 1998, pp 141-151

“Consumption and Saving Balances of the Elderly: Experimental Evidence on Survey Response

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Bias,” with Dan McFadden, Harish Chand, Li Gan, Angela Merrill and Michael Roberts, in D.Wise, ed., Frontiers in the Economics of Aging, 1998, Chicago: University of Chicago Press, pp353-387.

"Labor Market Transitions in the HRS: Effects of the Subjective Probability of Retirement and ofPension Eligibility," in Wealth, Work and Health: Innovations in Measurement in the SocialSciences, James P. Smith and Robert Willis, editors, 1999, University of Michigan Press, pp 267-290.

“The Association of Influenza Vaccine Receipt with Health and Economic Expectations amongElders: The AHEAD Study,” with Robert B. Wallace and Sara Nichols, in Wealth, Work andHealth: Innovations in Measurement in the Social Sciences, James P. Smith and Robert Willis,editors, 1999, University of Michigan Press, pp. 326-334.

“Anchoring and Acquiescence Bias in Measuring Assets in Household Surveys,” Journal of Riskand Uncertainty, 19 (1-3), 1999, pp 111-136.

“L’invecchiamento della popolazione. Conseguenze per l’individuo, la famiglia, la società,” (“AnAging Population: Consequences for the Individual, the Family and Society”), Biblioteca dellaliberta, 151, 1999, pp1-14.

“Predictors of Mortality among the Elderly,” with Daniel McFadden and Angela Merrill, inThemes in the Economics of Aging, David Wise, editor, 2001, Chicago: University of ChicagoPress, pp 171-197.

“Anticipated and Actual Bequests,” with James P. Smith, in Themes in the Economics of Aging,David Wise, editor, 2001, Chicago: University of Chicago Press, pp 357-389.

“Portfolio Holdings of the Elderly,” in Household Portfolios, Luigi Guiso, Michael Haliassos, andTullio Jappelli, editors, 2001, Cambridge, MA: MIT Press, pp 431-472.

"The Predictive Validity of Subjective Probabilities of Survival,” with Kathleen McGarry, in TheEconomic Journal, 112, 2002, pp. 966-985.

“Healthy, Wealthy and Wise? Tests for Direct Causal Paths between Health and SocioeconomicStatus,” with Peter Adams, Daniel McFadden, Angela Merrill and Tiago Ribeiro, Journal ofEconometrics, 112 (1), 2003, pp. 3-56, and in Perspectives on the Economics of Aging, David Wise,editor, 2004, Chicago: University of Chicago Press, pp. 415-518.

“Forecasting the Nursing Home Population,” with Darius Lakdawalla, Dana P. Goldman, JayBhattacharya, Geoffrey F. Joyce, and Constantijn W.A. Panis, Medical Care, 2003, pp. 8-20.

“Leaving Bequests: by Accident or by Design?” in Death and Dollars, Alicia Munnell and AnikaSunden, eds., 2003, Washington: The Brookings Institution Press, pp. 93-118.

“Health, Wealth, and the Role of Institutions,” with Arie Kapteyn, Journal of Human Resources,XXXVIII (2), Spring, 2003, pp. 386-415.

“Enhancing the Quality of Data on Income: Recent Innovations from the HRS,” with F. ThomasJuster and James P. Smith, Journal of Human Resources, 38 (3), Summer, 2003, pp. 758-772.

“Forecasting the Nursing Home Population,” with Darius Lackdawalla et al., Medical Care, 2003,41 (1), 8-20.

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“Disability Forecasts and Future Medicare Costs,” with Jayanta Bhattacharya et al., Frontiers inHealth Policy Research, 7, 2004, MIT Press, pp. 75-94.

“The Effects of Subjective Survival on Retirement and Social Security Claiming,” with James P.Smith and Julie M. Zissimopoulos, Journal of Applied Econometrics, 19, 2004, pp. 761-775.

“Pension Annuitization and Social Security Claiming,” with Constantijn Panis, James P. Smith

and Julie M. Zissimopoulos, in Developing an Annuity Market in Europe, Elsa Fornero and Elisa

Luciano, editors, 2004, Edward Elgar, pp. 112-131.

“Individual Subjective Survival Curves,” with Li Gan and Daniel McFadden, in Analyses in theEconomics of Aging, David Wise, editor, 2005, Chicago: University of Chicago Press, pp. 377-402.

“Healthy, Wealthy and Knowing Where to Live: Trajectories of Health, Wealth and LivingArrangements among the Oldest Old,” with Florian Heiss and Axel Boersch-Supan, in Analyses inthe Economics of Aging, David Wise, editor, 2005, Chicago: University of Chicago Press, pp. 241-275.

“The Aging, Demographics, and Memory Study: Study Design and Methods,” with Kenneth

Langa et al., Neuroepidemiology, 2005(25) pp.181–191

“Consequences of Health Trends and Medical Innovation for the Future Elderly,” with Dana

Goldman et al., Health Affairs, Web-Exclusive Collection, Vol. 24, Supp. 2, posted online

September 26, 2005.

“Predicting Disability Trajectories,” with Axel Boersch-Supan, Florian Heiss and David Wise,presented at the NBER Conference on Disabilities, Jackson Hole, Wyo. Oct., 2004 andforthcoming in conference volume, 2006

“The Effect of Large Capital Gains or Losses on Retirement,” with Monika Reti and SusannRohwedder, forthcoming in D. Wise, ed. Developments in The Economics of Aging, Chicago:University of Chicago Press

“The Choice to Cash Out Pension Rights at Job Change or Retirement,” with Constantijn Panis,Journal of Public Economics, 90 (December, 2006) pp. 2213-2227.

“Increases in Wealth among the Elderly in the Early 1990s: How Much is Due to SurveyDesign?” with Susann Rohwedder, and Steven J. Haider, Review of Income and Wealth, Series 52,Number 4, December 2006, 509-524,

“A Test for Anchoring and Yea-Saying in Experimental Consumption Data,” with Arthur vanSoest, forthcoming in Journal of the American Statistical Association

“Retirement,” forthcoming New Palgrave Dictionary of Economics.

“Trends in Pension Values around Retirement,” with Susann Rohwedder, in Brigitte Madrian,Olivia Mitchell and Beth Soldo, eds., 2007, Redefining Retirement, New York: Oxford UniversityPress, 234-247.

“Prevalence of Dementia in the United States: The Aging, Demographics, and Memory Study,”with Brenda Plassman et al., Neuroepidemiology, 2007, Vol. 29, No. 1-2, pp. 125-132

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“Prevalence of Cognitive Impairment but not Demented (CIND) in the United States,"Brenda Plassman et al. forthcoming Annals of Internal Medicine.

Notes and Comments

"Comment on The Dissaving of the Elderly: Tests of the Pure Life Cycle Hypothesis ofConsumption,'" (by B. D. Bernheim) in Issues in Pension Economics, J. Shoven (editor), TheUniversity of Chicago Press, 1987, pp. 275-279.

"Comment on Pensions and Turnover,'" (by E. Lazear and R. Moore) in Pensions in the U.S.Economy, Z. Bodie, J. Shoven and D. Wise (editors), The University of Chicago Press, 1988, pp.188-190.

"Comment on The Dynamics of Housing Demand by the Elderly: User Cost Effects,'" (by C. Ai,J. Feinstein, D. McFadden, and H. Pollakowski) in Issues in the Economics of Aging, D. Wise(editor), The University of Chicago Press, 1990, pp. 82-87.

"Comment on The Impact of the Demographic Transition on Government Spending,'" (by JohnShoven, Michael Topper and David Wise) in Studies in the Economics of Aging, D. Wise (editor),The University of Chicago Press, 1994.

"Comment on Projecting the Future Size and Health Status of the U.S. Elderly Population' (byKenneth Manton, Burt Singer and Eric Stallard), and on Uncertainties and New Evidence about theProspects for Longer Life Expectancy,'" (by James Vaupel) in Studies in the Economics of Aging,D. Wise (editor), The University of Chicago Press, 1994.

“Comment on Health Events, Health Insurance and Labor Supply: Evidence from the Health andRetirement Survey,” (by Mark McClellan) in D. Wise, ed., Frontiers in the Economics of Aging,1998, Chicago: University of Chicago Press, pp 346-349.

“Comment on Longevity-Insured Retirement Distributions from Pension Plans: Market andRegulatory Issues,” (by Jeffrey R. Brown and Mark J. Warshawsky), in Private Pensions andPublic Policies, William G. Gale, John B. Shoven, and Mark J. Warshawsky, editors, BrookingsInstitution Press, 2004, pp. 370-378.

“A Discussion” [of “Social Security Rules that Vary with Age” by Peter Diamond, and of“Retirement Incentives and Retirement” by Sarah Bridges and Richard Disney], in PensionSystems: Beyond Mandatory Retirement, Elsa Fornero and Paolo Sestito eds., Northampton:Edward Elgar, pp. 69-77

“Discussion of How Do the Better Educated Do it? Socioeconomic Status and the Ability to Copewith Underlying Impairment” (by David Cutler, Mary Beth Landrum and Kate Stewart),forthcoming in D. Wise, ed. Developments in The Economics of Aging, Chicago: University ofChicago Press

Book Reviews

An Introduction to Applied Macroeconomics by Edwin Kuh and Richard Schmalensee, in Journalof Econometrics, 1 (1973), pp. 403-406.

The Wharton Quarterly Econometric Forecasting Model Mark III by Michael McCarthy, inJournal of the American Statistical Association, 68 (December, 1973), pp. 1025-1027.

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Econometric Studies of Macro and Monetary Relations, Alan Powell and Ross Williams (editors),in Journal of the American Statistical Association, 69 (September 1974), pp. 833-834.

Economics of Population Aging by James Schulz, Allan Borowski and William Crown, in TheJournal of Economic Literature, XXX (3) September, 1992, pp. 1529-1531.

Selected Unpublished Papers

"The Marginal Value of Social Security," NBER Working Paper 2411, October, 1987.

"Some Doubts about the Empirical Relevance of the Strategic Bequest Motive," with Du Wang,presented at the NBER Summer Institute, July, 1991.

"The Relationship Between Job Characteristics and Retirement," with Kathleen McGarry, presentedat the HRS Early Results Workshop, Ann Arbor, September, 1993, and NBER Working Paper4558.

"Mortality Risk and Consumption by Couples," presented at the IFS-Bank of Portugal Conferenceon The Microeconomics of Saving and Consumption Growth, Lisbon, November, 1995, revised,January, 1997, and NBER Working paper 7048, March, 1999

“The Relationship Between Personality Measures and Family Status and Economic Outcomes,”with Karen Swallen , presented at the TMR/Center conference on savings, Tilburg, The Netherlands,July, 1997, and at the Genontological Society meetings, Cincinnati, November, 1997

“Saving for Retirement: Self-Assessed Savings Adequacy and Savings Plans,” with Julie M.Zissimopoulos, presented at the 8th TMR Conference on Saving, Paris, October, 2000

“Recovering True Distributions from Bracketed Responses,” with Arie Kapteyn and Julie M.Zissimopoulos, presented at the TMR Conference on Saving and Pensions, Evian, France,August, 2001

“The Effects of Large Capital Gains on Work and Consumption: Evidence from four waves of theHRS,” with Monika Reti, RAND typescript, October, 2001.

“Expected Bequests and their Distribution,” with James P. Smith, RAND typescript, presented atthe PAA meetings, May, 2002, Atlanta, GA, and NBER Working Paper 9142.

“The Retirement-Consumption Puzzle: Anticipated and Actual Declines in Spending atRetirement,” with Susann Rohwedder, NBER Working paper 9586, March, 2003.

“Saving for Retirement: Wage Growth and Unexpected Events,” with Julie Zissimopoulos,presented at the Retirement Research Consortium Conference, May, 2003.

“Models for Anchoring and Acquiescence Bias in Consumption Data,” with Arthur van Soest,NBER Working Paper 10461, 2004

“Subjective Mortality Risk and Bequests,” with Li Gan, Guan Gong, and Daniel McFadden,NBER Working Paper 10789, 2004.

“The Consumption and Activities Mail Survey,” with Susann Rohwedder, typescript, RAND,March, 2003.

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“Some Answers to the Retirement-Consumption Puzzle,” with Susann Rohwedder, typescript,RAND and NBER Working Paper 12057, February, 2006.

“Consumption and Economic Well-Being at Older Ages: Income- and Consumption-BasedPoverty Measures in the HRS,” with Susann Rohwedder, presented at the Retirement ResearchCenters conference, Washington, DC, 2005 and RAND L&P Working Paper 410.

“Alternative Measures of Replacement Rates,” with Susann Rohwedder, presented at theRetirement Research Centers conference, Washington, DC, 2006 and Michigan RetirementResearch Center Working Paper 2006-132